Apoquindo Minerals Inc.

Apoquindo Minerals Inc.

October 29, 2009 14:51 ET

Apoquindo Minerals Inc. Reports Update of Progress of the Antakena Mining Joint Venture, Copper Oxide Project, Northern Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2009) - Apoquindo Minerals Inc. (TSX VENTURE:AQM)(BVLAC:AQM) -


  • Minera has spent US$5.4M as of September 30, 2009 towards its 50% earn-in of C$10.8M
  • Drilling ongoing with 4 rigs (2 RC and 2 Core) – Total 22,804m completed to date
  • Drilling for metallurgical samples, geotechnical and condemnation, geology, exploration and infill
  • Surface geologic mapping and MMI Surface Geochemistry are being completed in order to develop additional exploration targets.

Apoquindo Minerals Inc. ("Apoquindo" or the "Company") is pleased to announce that drilling commenced under the Antakena Mining Joint Venture between Apoquindo and Minera S.A. at the Elenita Property with two (2) core rigs and two (2) RC rigs. To date 22,804m of drilling have been completed which includes drilling for metallurgical samples, condemnation, geotechnical, geology, infill and exploration.

The main focus of Minera´s work program to date has been at the Elenita copper deposit, which is hosted by volcanic and sedimentary rocks of La Negra Formation. Copper occurs in mantos, veins, hydrothermal breccias, veinlets and disseminated bodies, hosted principally in volcanic and sedimentary rocks and in intrusive rocks in a smaller proportion. At Elenita and as reported by AQM in the March 17, 2009 press release, the current NI 43-101 report indicates there are 19.7M tons at 0.87 TCu of Measured and Indicated resources at 0.2 cutoff and 4.8M tons at 0.73 TCu of Inferred resources. The deposit remains open in several directions and at depth and the exploration drilling program is designed to test these areas.

Surface geology and rock sampling has been completed by Geovectra S.A., including a 1:10,000 scale geologic map, of a 154 sq km total area centered in the Elenita deposit; geologic mapping continues now in the Madrugador deposit area. Thus far, the work has indicated an increased understanding of the mineralization and identifies prospective exploration areas that are within the properties controlled by the Antakena Joint Venture. An MMI Geochemical sampling in a 200x200 grid on the same ground is underway and will be matched to the information of the surface geology to identify future exploration targets. Once defined, detailed geologic mapping, rock sampling, trenching and drilling will proceed as a second stage of exploration. Metallurgical testing has begun with results expected in the first quarter of 2010.

Dr. Thomas Henricksen is Apoquindo's in house Qualified Person for the purposes of NI 43-101 and he has also reviewed and approved the contents of the news release. Dr. Henricksen has more than 35 years of experience and has visited the property several times during year 2008.

ABOUT APOQUINDO: The Company is a Canadian based mineral exploration company whose principal purpose is the acquisition and development of base and precious metal deposits in South America. The Company has two projects in Peru through its wholly owned Peruvian subsidiary, Minera Koritambo SAC: the Zafranal Copper-Gold Porphyry Project (recently optioned from Teck Resources Limited), located in the Paleocene Southern Peru Cu-Porphyry Belt, in the department of Arequipa, Peru and the Pachagon Porphyry Copper Project, located in the department of La Libertad, Peru. In Chile, the Company has a joint venture, Antakena Mining, with Minera S.A. to advance the Apoquindo Copper Oxide Project comprised of highly prospective leachable copper deposits under option located in a historic mining district in the Antofagasta Region's Coastal Range. Please refer to www.apoquindominerals.com for further information regarding the Company and its projects.

Management and directors have extensive experience working for the world's largest mining companies as well as several junior exploration companies. Apoquindo Minerals has offices in Santiago, Chile, Lima, Peru and Vancouver, Canada and will continue to expand its business using its effective team of experts in Exploration, Geology, Metallurgy, Mine Engineering, Law and Finance. Apoquindo is well positioned for success. Our Projects are uniquely valuable, and our knowledgeable management and directors provide a "pipeline" of growth opportunities.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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